Use the figure below to answer the following questions. Figure 12.3.3
-Consider Figure 12.3.3.If the market is perfectly competitive,which area indicates the deadweight loss?
A)ABD
B)BCD
C)KDI
D)ADC
E)A perfectly competitive market does not have a deadweight loss.

Question

Use the figure below to answer the following questions.  Figure 12.3.3
-Consider Figure 12.3.3.If the market is perfectly competitive,which area indicates the deadweight loss?
A)ABD 
B)BCD 
C)KDI 
D)ADC 
E)A perfectly competitive market does not have a deadweight loss.

Quizplus · Accepted Answer

In a perfectly competitive market, there is no deadweight loss because the market operates at maximum efficiency, where supply equals demand.

Use the Figure Below to Answer the Following Questions